Boca Raton Hotel Buys Country Club In Northwest Boca

October 20, 1988|By TRACY KOLODY, Business Writer

In a move to attract younger, more active guests to the luxurious resort, the Boca Raton Hotel and Club on Wednesday announced the expansion of its recreational facilities with its first off-site acquisition of recreational property.

Owners of the pink hotel acquired a 40,000-square-foot clubhouse with dining and sporting facilities, an 18-hole golf course and a seven-court tennis complex at Boca Golf & Tennis Country Club in northwest Boca Raton, about 8 miles from the hotel property.

The terms of the sale were not disclosed by hotel management or by officials at FPA Corp., developer of Boca Golf & Tennis. However, Brian McLaughlin, executive vice president of FPA`s southern division in Pompano Beach, did say the sale was a multimillion-dollar transaction.

``This was a situation where it benefited both parties,`` McLaughlin said. ``While we weren`t out actively seeking buyers in general for this facility, we got into real negotiations (with the hotel) several months ago about acquiring the property.``

FPA is best known for developing the Palm-Aire complex in Pompano Beach, which includes a well-known health spa and sports facilities and multifamily housing. Earlier this year, the company sold Palm-Aire`s non-residential properties to a New Jersey resort operator to concentrate on its housing projects.

``We`ll sell our recreational properties only if we find a good buyer,`` McLaughlin said.

The Boca Raton Hotel and Club was built by Addison Mizner in the 1920s. The hotel, rated as a five-star resort by Mobil and AAA, has one on-site golf course that underwent extensive renovations during the past year. The hotel also offers guests the use of several tennis courts and operates the Beach Club that provides one-half mile of oceanfront beach.

The acquisition of the Boca Golf & Tennis properties ``will enable us to maintain our leadership in an increasingly competitive market,`` said Michael Glennie, president of the Boca Raton Hotel and Club.

Boca Golf & Tennis is on 320 acres near Clint Moore Road and Congress Avenue. The community is planned to eventually have 1,100 housing units, including single-family homes, townhouses and condominiums.

Its residents will receive preferential treatment for use of the golf course and recreational facilities at Boca Golf & Tennis, McLaughlin said. They also will be given the opportunity to become members of the Boca Raton Hotel and Club.